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How can I buy a house with zero down payment?

0 down payment for mortgage

Lately, I’ve been getting some inquiries regarding the option of buying a house with no down payment.  In reality, there are no more ‘zero down’ mortgage programs available.  However, there is a program that exists that is very similar and that can help you purchase a property with no money as a down payment.

It’s called a free down payment mortgage, and essentially the bank offers to pay your 5% down payment on your behalf when you qualify for a 5 or 7 fixed year mortgage.  What will you need to qualify?

  1. An employment record of at least 1 year at your current job
  2. A credit score of at least 640

The current rate for a 5 year fixed zero down payment mortgage is 5.50%.

If you’d like more information on this program or would like to apply for a pre-approval, you’re welcome to contact me here.

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19 comments… add one

  • kashi Pokharel July 16, 2015, 5:18 am

    Hello Lang Thanks for all useful information. I came Canada,1.5 years( 18 months ago) , now iam working full time as a monthly salary basics and my yearly income is near 35,000$ / year . My wife is student and i have a daughter age 14. I think i have a good credit history till now. I want buy a house or town house , but i cant pay down payment, ( Cash money). Could you please help me in this situation. Thank you.

  • dennis March 12, 2013, 11:46 am

    hello lang i live in kingston ont, i tryed last year to get a home was quified for 140,000 but because i have a truck payment ive been making for the last two years ive got excellent credit rating and a good job, but getting the down payment is hard right now. what can i do. thank you .

  • Jocette February 19, 2013, 10:59 am

    Hi Lang,

    Is the Scotia Free Downpayment option still available? Can you send me an updated link? The link you posted no longer seems to work.

  • Navdeep November 7, 2012, 8:12 pm

    I arrived in Canada on 13th June 2012 under skilled worker category, I am working as a Security Guard for last one month. My wife is also working for last one month. We are renting a basement and paying 800 as rent. I want to buy a two bedroom condo but I can not afford to pay any down payment. I looked at prices and the cost of owning a condo would be almost similar to the rent that I pay.
    Do you think I have some way out to buy a condo costing around 200,000 without any down payment?

  • Crystal April 5, 2012, 2:33 pm

    Btw sorry about posting your name wrong! I know its Lang but I typed too fast and wrote Liang instead. I am so sorry.


  • Crystal April 5, 2012, 2:32 pm

    Hi Liang,

    I have a million questions about purchasing a home and trying to understand about buying a home of my own. However, through just emails it would be a very long one. Is there any way of contacting in person or something for me to explain my situation and if possible you give me some feedbacks or some routes I can take in order to obtain my own home?

    My mom has been renting for 20 + years and I am tired of her bad habits that cost us not to be able to afford and own our own home. So I need help with understanding what it takes to own a home either with or without a down payment, although I prefer not to. If you can email me at my personal email that would be fabulous and we can talk some more about future planning.

    Thank you so much.


  • Lori April 2, 2012, 12:29 pm

    Hi Lang, the link you have posted no longer exsists. Im inquiring about purchasing a home with no downpayment. Also how do i find what my credit score is? Can you help me?

    Thank you


  • Jeff Jinga April 1, 2012, 8:17 pm

    Hello Lang,
    Thank you for your good job. I need financial advice. I have a car loan of $15,000 . I came to Canada five years ago and i have kept the same job since making $30,000/Year – $33,000/Year
    I would like to buy a place with 0 down payment 2bdr bath . Is this a possibility?
    ..and what are the steps?

  • Lori March 17, 2012, 1:42 pm

    Hi Lang, i too am in the same postition as Janette and sure would have liked to know what your answer was? I have been searching for a home for quite some time now, but my problem is i only make 28, 000 a year. Is it possible to send me info?

    Thank you

  • Cathy June 7, 2011, 4:53 pm

    I am 53 . discharged from a consumer proposal Feb. 2010…Used to own a home but after a marital separation 10 years ago…..made some bad financial decisions. Now renting and would like to get back into a mortgage but a house ,m or condo ..that I could afford.
    only have $5000 rrsp …can I get into another home …not 1st time buyer with no down payment . I live in Maple and work in Etobicoke.
    income , with 2 jobs is $73,000.
    Can you help? Credit score is?

  • RB January 29, 2011, 4:38 am

    Hello Lang,

    Is the Scotia Free Downpayment option still available? Can you send me an updated link? The link you posted no longer seems to work.

    Also, my credit score is 642 – would I qualify for it?

    I appreciate your response!

  • lang September 2, 2010, 9:09 pm

    Hi Janette,

    Please check your email. Thanks!


  • janette September 2, 2010, 2:42 pm

    Hi lang,

    I have been renting since i arrived in canada less tha 2 years ago, since i started to work 3 months ago im seriously thingking of purchasing a house but my annuall income is only 26,000 unfortunately my childtax benifits (about 19,000) cannot be included when applying for a mortgage, i have a pretty good credit i believe, but does this mean i cannot buy a home until i get paid at least 20 per hour?

  • lang October 19, 2009, 1:49 pm

    Hi Niinii

    Unfortunately, there really isn’t much you can do unless you can find someone to co-sign on the deed that has good credit. Lending institutions are looking for either a large down payment, or an employment record with a good credit score. An individual who has no down payment and bad credit history is unlikely to find any lender that will take a chance on a mortgage.


  • lang October 19, 2009, 1:45 pm

    You’re most welcome, Meg. Glad the article was helpful. :)

  • Meg Rigden October 17, 2009, 6:36 pm

    I just wanted to say thanks for the link… I don’t know if my husband and I will be eligible, but it’s nice to know we can try! THANK YOU!

  • niinii October 14, 2009, 1:18 pm

    hi im lookin to buy a 3 bedroom home without down payment plus i have a bad creit score. What should i do?

  • lang April 5, 2009, 3:36 pm

    Hey Virna

    This program is absolutely for real. It’s a great alternative for people who are looking to purchase a property with no payment but excellent credit. It’s being offered by Scotia Bank. Details of the program are right here:



  • Virna April 3, 2009, 3:31 pm

    Hey Lang, I have a question, is this program for real or is it a get the client through the door and then tell them to go for something else?
    i have not heard about it from anywhere else and it just feels like there is more to it?
    i hope you don’t mind me asking?

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